Reported 1 day ago
Shares of Dongfeng Motor surged up to 85.8% in Hong Kong after news of a restructuring plan by its parent company, sparking merger speculations among state-owned automakers as competition intensifies in the electric vehicle market. Alongside, shares of its sister company, Changan Auto, also saw a notable increase, fueled by similar restructuring announcements. The central government is pushing these state-owned enterprises to enhance their independent technology and competitiveness, especially against the backdrop of rising domestic electric vehicle sales.
Source: YAHOO